The majority of spending in the government purchases category comes from the federal government
Indicate whether the statement is true or false
FALSE
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Which of the following pairs of goods is most likely to have a positive cross-price elasticity?
A) Printers and ink cartridges B) A privately-owned car and public transportation C) Coffee and sugar D) Motorcycles and typewriters
In the above figure, the perfectly competitive firm's shutdown point is at a price of
A) $4 per unit. B) $8 per unit. C) $12 per unit. D) $16 per unit.
Most economists agree that the self-correcting mechanism works
A. very slowly. B. very rapidly. C. rapidly in the short run and slowly in the long run. D. slowly in the short run and rapidly in the long run.
Monopolistically competitive firms want to behave like a cartel, choosing a rate of output that maximizes total profit for all of the firms in the market.
Answer the following statement true (T) or false (F)